Global electroporation instruments & consumables market is expected to reach USD 350.8 million in 2028, from its recorded value of USD 212.5 million in 2020, growing with a CAGR of 6.8% during the forecast period.
Electroporation instruments use a molecular biology technology based on electrical conductivity to generate permeability in the cell membrane through which molecules of interest can pass through it passively. Electroporation instruments are beneficial in introducing foreign proteins to different cell types, such as bacterial or mammalian cells.
The electroporation instruments and consumables market growth is driven by the increasing research and development funding by public and private bodies.
In addition, with the increase in the technological advancements in the fields of nanotechnology, biotechnology, and pharmacology, increases its penetration rates, thus driving its market growth.
Collaborations between major market players and academic institutions, funding for research in electrophoresis technique, increasing focus on next-generation sequencing techniques, are some of the other factors driving the growth of electroporation instruments and consumables market.
North America is expected to hold a major share of 38.38% in the global electroporation instruments & consumables market. This is attributed to the presence of well-established manufacturers and robust funding to promote R&D on cancer therapeutics, precision medicine, and advanced cytological studies. Further market potential of the region can augment key market participants revenue in the United States market for electroporation instruments and consumables market.
Market Dynamics
Drivers
- Development of vaccine delivery system using electroporation technology
- Progress in gene editing techniques
- Rising demand for monoclonal antibodies
Restraints
- Non-specific transport and other complications
Rising demand for monoclonal antibodies
Monoclonal antibodies are one of the pharmaceutical industry's fastest-growing products. In the fields of biology, diagnostic imaging, medicine, and biochemistry, they have a wide range of uses.
Cancer, multiple sclerosis, rheumatoid arthritis, cardiovascular diseases, Crohn's disease, psoriasis, and ulcerative colitis are some of the medical applications.
The rise in demand for monoclonal antibodies has prompted the development of new production technologies. For antibody production, large manufacturers have built large-scale manufacturing plants with several cell culture bioreactors.
Monoclonal antibodies, for example, are made by Thermo Fisher Scientific and involve stable cell lines, cell culture growth, downstream purification, and final product testing.
Monoclonal antibodies are produced by the company using modern electroporation tools and cell culture conditions. As a result, the market will expand due to rising demand for monoclonal antibodies.
It is also observed that there is a rise in the number of clinical trials being conducted for cancer antibodies, and a number of monoclonal antibodies are being approved for medical use over the years. With the targeting ability of these monoclonal antibodies they find application in a wide range of therapeutic applications, thus driving the market growth of electroporation instruments & consumables.
Geographical Analysis
South America electroporation instruments & consumables market is estimated to grow at a CAGR of 6.1% during the forecast period (2021-2028) to reach a market value of USD YY million by 2028.
South America has the fourth largest share in the region. South American countries are experiencing rapid socio-demographic and epidemiologic changes and the nature of health problems are undergoing transition from infectious to chronic diseases, including cancer.
Existing data delineating the number of cancer cases and the distribution of cancer types from each country in the region are sparse due to limitations on health information systems for recording incidence and mortality despite improvements made in recent years.
The high response rate of electroporation-based treatments for biomedical applications made them an increasingly-used therapeutic procedure in oncology both in human and veterinary medicine.. For instance, The use of Electrochemotherapy (ECT) grew at an incredible speed, with more than 20,000 patients treated in more than 150 centers by the end of 2019. Ten out of the twenty countries of Latin America have ECT: Argentina, Brazil, Chile, Colombia, Ecuador, Guatemala, México, Paraguay, Perú, and Uruguay. The development of the EPV-100 device (BIOTEX SRL, Buenos Aires, Argentina) introduced an extended warranty and full customer support in Spanish, which also encouraged veterinarians to start performing ECT in their clinics.
Another reason for this rapid expansion of the technology is its very low cost compared to other oncological treatments in veterinary medicine. For instance, radiotherapy, a highly effective procedure, is only available in very few centers across Latin America, and its cost makes it prohibitive for most pet owners.
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